2. “In the News”

Summarized

Advances in technologies will always have an influence on both supply and demand. Technology has been developed for parents to monitor and control their children’s phone. This is “Parent Control” and it allows the parent to check on their phone calls, who they call and who calls them, add a time when they could use their phone, the number of minutes they could use to phone someone or text messages, and what service they could access. This Parent Control acts like a security to protect the child’s phone to keep them safe from dangers like viruses and bad people and also help with the phone bill when the child uses too much cell service. Parent Control was launched in the fall of 2006.

Questions

Q. What do you think might have happened to the consumer demand for this product after it was introduced?

A. After this product was introduced the consumer demand might have been very high. Most parents would want to know about their child’s safety, and also save themselves from paying too much for the phone bill. This service greatly improves their lives to safeguard their children from harm. They could see who their child is talking too, protect them from a virus, and set the amount of minutes or text for the phone. This service is really useful for all parents.

Q. If Parent Control becomes really successful, do you think the supply of this and other similar products, will increase or decrease? Why?

A. If Parent Control and other similar products become really successful then the supply for these products will increase because the more people who buy this product will increase their sell which allows them to make more products. So businesses have to increase their supply do they could be able to keep on selling their product.